The Network Attached Storage (NAS) market is projected to grow from USD 25.7 billion in 2022 and is projected to reach USD 51.0 billion by 2028; it is expected to grow at a CAGR of 12.1% from 2022 to 2028.
The growth of this market is driven by factors such as surging adoption of Internet of Things (IoT) technologies and connected devices, increasing adoption of hybrid cloud storage, and growing use of 5G technology.
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Key strategies adopted by the players in the NAS market to uphold their position and ensure long-term growth and market success are product launches, acquisitions, collaborations, and partnerships. For instance:
In September 2022, QNAP Systems, Inc. (Taiwan) launched two new products, i.e., TS-464 and TS-664 NAS solutions, which are 4- and 6-bay NAS products, respectively. The new products are integrated with Intel’s Celeron high-performance processor, which provides 2.5 GbE speed and is designed for professionals and office users with high-speed demands.
In May 2022, Dell Technologies Inc. (US) announced the launch of Dell PowerStore, PowerMax, and PowerFlex storage software. These software will help to deliver faster data insights with better multi-cloud data control and increased cyber resiliency to the users/customers. They will also help to provide high performance, reliability, security, and speed in data storage applications.
In May 2022, Infortrend Technology Inc. (Taiwan) helped optimize a creative production company’s post-production NAS storage capability in Europe. The company provided its EonStor CS scale-out NAS. The Infortrend NAS solution maximizes storage capacity, provides ease of management, and offers flexible storage expansion to boost its post-production productivity.
In May 2022, NetApp Inc. (US) has announced that it has completed the acquisition of Instaclustr (US). It is a provider of fully managed open-source database, pipeline and workflow applications delivered as a service. This acquisition will improve company’s Cloud Operations supporting the storage solutions market growth.
Dell Technologies Inc. (US) is a leading IT hardware, software, and service provider. The company uses emerging technologies such as data management, autonomous operations, 5G, intrinsic security, edge, and cloud computing to stay competitive in the market. It has a strong operational presence in the US—over 46% of the total revenue generated from the country in FY2022. The company has a strong patent portfolio, with over 18,570 granted patents worldwide. In addition, Dell Technologies Inc. (US) has 7,619 pending patent applications as of January 2022. The company offers solutions that enable digital transformation and encompasses software-defined data centers, all-flash arrays, hybrid cloud, converged and hyper-converged infrastructure, cloud-native software application development tools, and security solutions. It is engaged in providing enterprise data storages such as Network Attached Storage (NAS), Storage Area Network (SAN). The company has an operational presence in over 70 countries with over 239 offices worldwide.
NetApp, Inc. (US) designs, manufactures, and markets storage and data management solutions and provides technical support. NetApp serves enterprises, government agencies, and universities worldwide. It has a strong product portfolio that includes data ONTAP software, data management software, storage management and application integration software, fabric-attached storage (FAS) family products, data protection software products, and data retention products. The company provides services to various markets, including energy, financial services, internet, government, high technology, healthcare services, life sciences, manufacturing, entertainment, animation, media, video post-production, and telecommunication. NetApp, Inc. (US) has a strong presence globally, with major business operations in the US, Canada, Latin America, Europe, Africa, and Asia Pacific.
Network Attached Storage (NAS) Market by Design (1-8 Bays, 8-12 Bays, 12-20 Bays, more than 20 Bays), Product (Enterprise, Midmarket), Storage Solution (Scale-up NAS, Scale-out NAS), Deployment Type, End-user Industry & Region – Global Forecast to 2028
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